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Payton Kelly Profile picture
Payton Kelly
@paytonjkelly
Commercial Real Estate Broker working on Retail, Shopping Centers, and Net Lease. Email me your shopping centers, pad sites, and retail opps - pk@svntrue.com
Feb 2, 2023 • 7 tweets • 2 min read
Who makes the most money on a ground lease? 👇

Let's say you purchased a 0.75 AC parcel at $15 PSF and ground leased to a QSR at $85,000 per year on 15 year lease with 10% increases every 5 years.

Assuming the tenant will trade at a 5.5% cap, the total value is $1.545MM.

(1/7) Tenant Rep Broker:

Typically, Tenant Reps receive 3-4% of gross base rents during the initial term. Commission depends on state, strength of tenant, broker, etc but always want to keep the Tenant Rep brokers happy.

Commission: $42,000-$56,000
Jan 18, 2023 • 11 tweets • 3 min read
THREAD: Agree Realty ($ADC), Not All Boxes Are Created Equal.

Retail Net Lease Strategy this REIT used to go from $300 Million in Assets to over $8 Billion.

@AgreeRealtyCorp In 1971, Richard Agree founded Agree Development company and developed over 40 community shopping centers throughout their 23 year history until their initial public offering of 2.5 million shares in 1994 when they commenced operations as a REIT (Real Estate Investment Trust).
Jan 11, 2023 • 10 tweets • 2 min read
How can you be sure the price a National Credit Tenant will pay for your pad site or retail box space?

Here are my methods to get the highest rent possible:

(1/10) Lease Comps:

The best information you can have for what a tenant will pay is having a comprehensive database or access to lease comparables.
Jan 3, 2023 • 7 tweets • 2 min read
THREAD: The Best Way to Get Started in Cold Calling for Commercial Real Estate.

#ColdCalls #CRE #REtwit

(1/7) The best possible advice that I could give to a broker starting out is to get on the phone as much as possible. The more time you spend dialing has a direct correlation with the amount of money you are able to make. Here is how I would recommend that you get started.

(2/x)
Dec 31, 2022 • 7 tweets • 3 min read
THREAD: How to Reach Out to National Credit Retail Tenants and What I Send Them.

#Retail #RetailLeasing #ShoppingCenters #CRE #REtwit

(1/7) Retail tenant decision makers are constantly getting calls and emails for opportunities within and outside of their area. I am always respectful of their time and take any work off their plate whenever I can. Always get confirmation they handle the area prior to sending.

(2/x)
Dec 28, 2022 • 16 tweets • 4 min read
THREAD: Financials We Collect with LOI from Retail Tenants and Why.

#Retail #RetailLeasing #ShoppingCenters #CRE #REtwit #CommercialRealEstate

(1/16) Collecting thorough financials in retail leasing is crucial because you are starting a relationship for a minimum of 3 to 5 years and often longer if you are effective in your leasing and management processes.

(2/16)
Dec 27, 2022 • 16 tweets • 4 min read
1/16 THREAD: How my first cold call landed a 25,000 SF neighborhood strip center leasing and renewal client and made him $3.5MM of tax-free cash on a refinance after a 4-year hold. #ColdCalls #CRE #REtwit 2/16 I made my first cold call after placing a retail fitness tenant in a 2,550 SF end cap. I was fortunate to have a mentor who allowed me to show listings for him on tenants who did not have a broker so I could earn a commission in the event of lease.